Broadcasting
NBC Says no Going Back on New Broadcasting Code
Armstrong Idachaba, director-general of the National Broadcasting Commission (NBC), says the commission is not backing down on the controversial amendment to the country’s broadcasting code.
Idachaba said the new broadcasting code is to break the monopoly of “greedy capitalists” who “call themselves dominant players” and allow local payTV platforms to thrive.
In March 2020, the NBC released the 6th edition of its broadcasting code, which mandates sub-licensing of premium content and kills the idea of exclusivity.
Broadcasters, columnists, and Multichoice, one of the dominant players in the Nigerian payTV industry, have spoken against the code, which they say further stifles the growth of the industry.
But Idachaba disagrees; according to him, “the amendments have been made, no going back because we believe it is good for our country, they are already operational”.
Speaking with Osasu Igbinedion on The Osasu Show, Idachaba said the NBC has licenced several local payTV platforms, but they do not survive due to the presence of the likes of DStv.
When asked about the negative effect the lack of exclusivity clause may have on DStv, Idachaba said: “Let me give you a poser as background: Why is it, have you ever thought, that our local tv, cable, paid services are nonexistent? There is no Nigerian that is active on the payTV platform, no Nigerian company.
“NBC licenced several, up to 30 Nigerian firms to offer paid television services in Nigeria and none of them succeeded. Why, because they cannot compete in the international content market.
“And what happens to the international content market, the people with the big purse, the global capitalist, those that call themselves dominant players, they go to acquire those rights and keep it to themselves in the guise of exclusivity and deny all other operators an opportunity for sublicensing.
“What does that do? What it does is to create a monopolistic economy for whoever is the buyer of that content and the person is able to maximize profit unhindered. That is why you find internet penetration in Nigeria is increasing by the day. That is why you find that all those big monopolies break even and make tonnes of money.
“What we are saying is that when you go to acquire these rights, because you are acquiring them for the Nigerian market, because your intent is to exploit the Nigerian audiences and viewers, we want you also to give back by sublicensing to local Nigerian players that may be interested.”
Idachaba said DStv must now sub-licence the English Premier League to other players in the industry, who may be interested.
“If you bring EPL for instance and say I am the owner of EPL, only me can show EPL and on my platform alone, so whoever wants to watch premier league would have to buy DStv, even if you have Startimes, you cannot watch,” he added.
“If you are on open television, the open terrestrial, where low-income earner, those on the lower social ladder, where they thrive, then they are denied which is class stratification in itself on account of content acquisition.
“We are saying create these windows. If you get the rights, fine, we welcome you, invest in Nigeria, but create channels for sublicensing”
Confronted with the fact that Multichoice, the owners of DStv, don not have the rights to sub-licence the English Premier League (EPL) Idachaba said “whoever is giving them the rights has to understand” that there is a new NBC code.
“If you are going to acquire your rights, you know that in the Nigerian Broadcasting Code, we have plainly said you can’t have exclusive right. So whoever, if giving you that right has to understand that he cannot give it to only you in Nigeria.
“If any other Nigerian is interested in that right, they must also discuss at mutually agreed price. Because what has happened over time is that this exclusivity is used to shut other people who are willing to participate. You shut the window.
“How then do you develop an economy? We have thousands of young promising Nigerian entrepreneurs, you know that premium content derives advertising. If these channels are made available at lower window levels through sublicensing to local little operators, they too will be able to attract some level of advertising.
“But Capitalist are greedy, they are extremely self-centered, they don’t want to give it out. But we know it is important for our own economy and creative subsectors that this happens.”
The DG, who has worked at NBC for over 28 years called on Nigerians to “have an ideological, philosophical understanding of the motive of the policy, what does it intend to achieve”.
He said the policy is to “redynamise and redistribute wealth in a way that there would be more participation, more engagement and more opportunities”.
“What makes the capitalist think that by keeping content to themselves, they maximize all the profits? Chances are that by sublicensing, you make more. The more you share to people based on the agreed sum, you are more likely to make more money quickly. It doesn’t reduce your own large share but creates open windows.”
Gold remains one of the most powerful commodities in the global financial architecture. It is widely recognized that, for traders in Nigeria, specifically, currency pressures, inflation expectations, and shifts in global liquidity make up the macro environment more often than not; hence, understanding the correlation of gold with key Forex assets is more of an economic insight than a trading tactic.
The correlation between gold and currencies, equities, bonds, and even energy markets provides a broader framework for interpreting global risk sentiment. A growing number of Nigerian investors use this correlation to hedge against inflation, read capital-flow trends, and adjust trading strategies across major currency pairs.
Why Gold Matters in Today’s Macro Environment
This can be explained by looking at the larger picture and how global factors either positively or negatively impact the price of gold: spiraling inflation, geopolitical tension, tightening by central banks, and the flight-to-safety dynamic that heightens in moments of market stress. African traders, especially those active with international brokers such as JustMarkets, are very sensitive to how gold performs not only as a commodity but also as a macro indicator.
Indeed, the strongest correlations of gold are more often found with the US dollar, major bond markets, equity indices, and energy instruments in periods of high geopolitical risk. Each one of these offers a different angle for Nigerian traders to approach macroeconomic changes.
Gold and US Dollar: The Most Watched Correlation
The inverse correlation between XAU and the USD remains one of the bedrock relationships in global finance. It usually weighs on gold because a stronger dollar raises the opportunity cost of holding the metal. Conversely, the opposite has occurred when the market has priced in rate cuts, rising inflation, or policy uncertainty.
This relationship provides Forex traders in Nigeria with a macro perspective:
USD strength; pressure on gold; bullish signals for USD-pairs like USD/JPY or USD/CHF
USD weakness; appreciation of gold; potential strengthening of the non-USD majors
This dynamic is often emphasized by platforms such as JustMarkets in their markets analytics, allowing traders to match the technical setup with real policy shifts from the Federal Reserve.
Gold and Bond Yields: A Window into Global Risk Appetite
Gold is highly sensitive to real interest rates. When US real yields fell, it sent gold higher because investors saw it as a hedge against inflation and thus a haven. Yet higher yields tend to dampen demand for precious metals.
To traders, this correlation is a reason for short-run volatility around announcements like:
US CPI
FOMC decisions
Results of Treasury auctions
In countries like Nigeria, when domestic inflation is high and Naira pressure amplifies sensitivity to global risk, the movement of gold often proves an early indicator of how capital might rotate between safe havens and risk assets worldwide.
Gold and Equity Markets: The Fear Gauge
While geopolitical tensions or recession fears tend to deflate equity markets, they strengthen gold. This negative relationship is considered helpful for traders looking to deduce spikes in volatility and risk-off flows. Examples include:
Sharp US30 or NAS100 declines coupled with XAU/USD rallies
Broad-based sell-offs driven by political uncertainty or commodity shocks
This dynamic helps explain to the Nigerian analysts focused on policy and political economy how global risk events transmit to the local market through capital-flow sentiment.
Gold and Energy: Transmission via the Inflation Channels
Although gold and oil are not directly correlated, both respond to inflation expectations. Surging oil prices can fuel inflation forecasts that support the price of gold.
This channel is particularly important in the case of Nigeria, a major oil exporter. When crude markets temporarily tighten due to supply disruptions or OPEC policy decisions, gold becomes a complement to hedge against global inflation risk.
Trading with the Use of Gold Correlations
A structured approach allows traders to put gold’s relationships into practice:
Start with the macro driver.
Identify whether inflation, geopolitics, or monetary policy is the primary force shaping markets.Translate the macro event into correlation expectations.
Example: falling bond yields lead to a weaker USD, which in turn supports gold and could lead to upside in EUR/USD.Use correlation clusters instead of isolated signals.
Gold + USD + bonds provide a more reliable picture than gold alone.Apply risk management aligned with volatility cycles.
Gold’s volatility often spills over into major currency pairs.
Market platforms like JustMarkets emphasize these cross-asset links to help traders simplify complex macro interactions into actionable insights.
Why Nigerian Traders Pay Close Attention
The Nigerian economy is highly integrated into global commodity flows; inflation cycles, dollar liquidity, and geopolitical developments tend to reach the local market faster than the pace at which policy adjustments can be made.
Gold serves as a barometer of global risk, a hedge against currency depreciation, and a signal of moves in the key USD pairs that headline Nigeria’s trading activity.
In a region increasingly active in the Forex market, understanding the relationships involving gold is not just about trading but also a strategic tool for analyzing global economic behavior
Mr. Tim Akano, New Horizons Chief Executive Officer, took centre stage at the Nigerian Information Technology Reporters’ Association (NITRA) annual end-of-year meeting on Thursday, December 18, 2025, recounting the company’s remarkable growth and reaffirming free IT training for journalists.
Tim Akano, New Horizons Chief Executive Officer, in a group photograph with NITRA Members
Speaking directly to IT media members at the company’s training facility in Lagos, Akano acknowledged the critical role journalists played in supporting New Horizons during its formative years two decades ago.
He detailed how the firm evolved from a handful of staff to one of Africa’s leading ICT skills training organisations, now employing about 500 staff across multiple training centres nationwide.
Akano Spotlights Youth Training, University Partnerships
Akano highlighted that New Horizons has trained over 500,000 youths, particularly tertiary institution students, equipping them with practical IT skills essential for Nigeria’s digital economy.
He announced recent partnerships with universities, including a new agreement with Afe Babalola University, to scale hands-on training programmes for students.
“This growth would not have been possible without the media’s support in documenting our journey,” Akano stated, pledging continued free IT skills training for media members to remain competitive in the evolving digital landscape.
Reciprocal Support Defines Long-Standing Partnership
The venue hosting the NITRA meeting underscored Akano’s generosity; NITRA Secretary Chidiebere Nwankwo secured the free facility after contacting him—a gesture consistent with New Horizons hosting multiple association events and training IT journalists since its inception 20 years ago.
Participants shared personal testimonies of Akano’s support, including veteran journalist Aaron Ukodie, whose daughter—an Accounting graduate from the University of Johannesburg—received NYSC placement and IT scholarship at New Horizons.
The Guardian’s Yemi Adeyemi recounted Akano accommodating his editor’s child for mandatory IT training after other firms declined.
Members praised Akano’s commitment to human capital development as evidence of deep appreciation for the media community that chronicled New Horizons’ success over two decades.
National Identity Management Commission (NIMC) has launched the NIMC Pre-Enrolment Portal to revolutionise the National Identification Number (NIN) enrolment process, enabling applicants within Nigeria and in the Diaspora to capture biodata online prior to biometric verification at enrolment centres.
NIMC
Accessible via penrol.nimc.gov.ng, the platform allows users to fill enrolment forms, schedule appointments, upload supporting documents securely, and manage personal details directly, thereby slashing congestion, minimising wait times, boosting data accuracy and enhancing overall service efficiency at centres nationwide.
NIMC Director-General and CEO, Engr. (Dr) Abisoye Coker-Odusote, spearheaded the initiative as part of the Commission’s technology-driven strategy to fortify institutional performance, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda that emphasises digital transformation, efficient public service delivery and inclusive national development.
Dr Kayode Adegoke, Head of Corporate Communications, highlighted key benefits including simplified biodata handling, confidential data protection through robust security measures, reduced physical centre visits and heightened operational effectiveness, urging all prospective enrollees to adopt the portal for a faster, citizen-friendly experience.[conversation_history]
The move underscores NIMC’s mandate under the NIMC Act No. 23 of 2007 to manage the National Identity Database, issue NINs and foster a reliable digital identity ecosystem vital for national planning, with users advised to complete pre-enrolment online before heading to selected centres for biometrics.
FIRS Rebrands as Nigeria Revenue Service, as New Tax Laws Take Effect
Galaxy Backbone Celebrates the Federal Government’s Paperless Civil Service Milestone
Banks to Impose N50 Stamp Duty on Transfers of N10,000 and Above from January 1
How to Use the Correlation of Gold with Other Trading Assets in the Forex Market
How Nigeria’s New Tax Law Could Redefine Risk in the Banking Sector
Nigeria Records Highest Weekly Cyberattacks in Africa — Report
Financial Sector Faced AI, Blockchain and Organised Crime Threats in 2025 – Report
Cyber Tsunami Hits Nigeria as Breaches Surge 1,047%, esentry Q3 Report Reveals
Banks quietly move to enforce new ₦50 transfer levy from Jan. 1
Report Reveals Half of 2025’s Compromised Passwords were Already Leaked
Telecom3 days agoNnaemeka Ani – The Architect of ‘Code and Courage’
E-Financial3 days agoNigeria’s N58.18trn Budget and Rising Cost of Deficit Governance
Telecom3 days agoMTN Nigeria Appreciates Partners, Customers at Lagos Prestige Experience
Telecom2 days agoT2 Faces NCC Probe in Benue Over Major Service Outage in 9 LGAs
Telecom2 days agoMTN Nigeria Crowns Ayo Benzi Winner of Next Afrobeats Star
Telecom2 days agoNCC Grants 45 Days for Telecoms Firms to Fix Unapproved Shareholding Changes
E-Business2 days agoJumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity
Telecom2 days agoNCC Unveils Draft 5-Year Spectrum Roadmap, 60 GHz License-Exempt Guidelines to Boost Broadband, Innovation